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Pvt oil-fired power plants seek permission to import fuel

Two dozen privately owned oil-fired power plants in Bangladesh have asked the government for permission to import petroleum products to use for electricity generation, a senior energy ministry official said Wednesday. The plant owners have objected to the quality of fuel currently being supplied to them by state-owned Bangladesh Petroleum Corp., which imports required oil products for the privately owned power plants. power plantThe ministry official, who asked not to be named, said the plants amounted t...

Bangladesh key economic indicators – Jan 23

DAILY INDICATORS

Wednesday Previous Taka/US $ (inter-bank) 77.75-77.75 77.75-77.75 Call money rate (inter-bank) 05.50-08.00 06.25-08.00 Dhaka Stock Exchange index 4,640.56 4,584.63 --------------------------------------------------------------- indicatorMONTHLY CURRENT PREVIOUS Growth in: Consumer price index (BBS) Change yr/yr (pct) Dec. 7.53 7.15 M2 supply (bln taka) (BB) Nov. 6,425.75 6,403.17 Forex reserves ($bln)(BB) Dec. 18.07 17.11 Exports(FOB) ($mln)(BB) Nov. 2,2...

Action plan for realising potential of Bali outcome

The ninth ministerial conference (MC9) of the World Trade Organization (WTO) which was held in Bali on 3-6 December has created a new benchmark for the faltering Doha Development Round (DDR). Since the launch of the DDR in 2001, the international economy has undergone significant changes. This has happened due to volatile food and commodity prices, shocks emanating from global financial and economic crisis, proliferation of regional and bilateral free trade arrangements and weak commitment to the Aid for Trade programme, according to the editorial of the current ICCB News Bulletin (October-December 2013 issue) of International Chamber of Commerce-Bangladesh released here on Tuesday.

Call money market robust after easing political climate

Country’s call-money market is witnessing accelerated transactions as both the lending and borrowing increased throughout the last one week thanks to the changed and improved political climate following the January 5 national election. As the demand for cash rises, the weighted average rate of interest on the overnight borrowing from the money market increased to 7.21 percent Sunday from 7.15 percent a week ago. call moneyBangladesh Bank data show that a total of Tk 6623.50 crore was transacted at the call...

Despite setbacks, Bangladesh beats India in garment exports

Bangladesh has overtaken India in readymade garment exports despite the recent setbacks it received like instances of building collapses and fire at manufacturing units, says a study by Exim Bank. Between January and October 2013, readymade shipments by Indian exporters to the US grew 6.3% to $3.2 billion, while the same by Bangladesh jumped 11.4% at $4.9 billion, the premier export finance agency said. "In the absence of latest data, imports by the US are a very good benchmark of understanding the latest trends. Bangladesh has been aggressively pushing the garment exports and has made a slew of policy changes to facilitate those," Exim Bank chief general manager Pra...

Political mess undermines foreign aid metrics

The political unrest in Bangladesh is viewed with grave concern by donors, which fear this instability could render development programs ineffective and are slowly reducing funds — World Bank data recently revealed a significant drop in foreign aid commitments, an almost 28 percent slip from $1.6 billion in 2013 to $1.2 billion in 2014. Weeks after the Prime Minister Sheikh Hasina was reelected for her second consecutive term as prime minister, the country continues to suffer from political instability which undermines the country’s development progress. foreign aid
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